Endowment Advice welcomed

dunstonh

angela110660 wrote:

Personally having our endowment with Standard Life and stuck in With Profits we are now at the point of deciding whether or not it is worth hanging in there or bailing it.

SL is a tough one. There is so much going on at SL at the moment that it is difficult to know fully what is right or wrong. If it was a 25 year Pru or NU with profits, you could be fairly confident in a surplus. If it was a Phoenix (home of many old closed insurers) or Pearl you would be confident in not getting close.

The later SL plans had access to unit linked funds so that may be the best option. The earlier ones have big penalties which have to be taken into account plus you dont often see what terminal bonuses may be on those early ones and an average TB may be enough to push them into surplus.

Are SL going to offer free switches into their UL fund range? Are they going to bolster their with profits fund with some of the money from floating? Did they reduce bonuses prior to demutilisation to prepare for a mass outflow of money after? Will those that stay benefit by future bonuses being raised again after a possible outflow?

With any endowment keep or surrender question, the only sure way to know is wait until maturity and then see which option was best. at this point its all unknowns and potentials which may or may not happen.

deport

The whole ethic of this submission is I did'nt receive what was promised.
and the insurance companies answer was an attempt to further deprive.

I thank you all for your further contribution. but unfortunatly most of the response seems to be coming from one side.

Johteage writes:-
[You have come out with your endowment more than covering your mortgage - consider yourself fortunate and put to bed any crazy ideas of sueing someone because you won't get anywhere]

Which insurance company do you work for jonteaque?
your knowledge of the original interview is a little off the mark and your continued reference to Salesman would suggest the general public
thought in terms of taking out an endowment mortgage in the same way they would purchase a tv. You will do well to remember that the vast majority of people entering into large financial commitments were very much in the hands of so called financial experts. Building Societies accepted the endowment
as sureity for the loan and presumably thought 'it would do what it said on the packet' so it is little surprise to find thousands of lambs were led ---
Those were the days when we trusted Insurance Companies and Building Societies so when dealing with a highly respected insurance
company (don't laugh this was 1988) you have no reason to believe things are not as they seem. Endowment mortgages were at this time the only way to go.

To give a more balanced view to this thread I would appreciate the view and
experiences of any present or ex endowment sufferers.